Dycom Industries (NYSE:DY - Get Free Report) had its target price raised by stock analysts at KeyCorp from $255.00 to $295.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the construction company's stock. KeyCorp's price target points to a potential upside of 14.99% from the stock's current price.
A number of other research firms also recently issued reports on DY. Wells Fargo & Company increased their price target on Dycom Industries from $215.00 to $250.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 27th. DA Davidson increased their price target on Dycom Industries from $220.00 to $265.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Wall Street Zen raised Dycom Industries from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. UBS Group raised their price objective on Dycom Industries from $258.00 to $288.00 and gave the company a "buy" rating in a research report on Thursday, July 10th. Finally, Raymond James Financial raised their price objective on Dycom Industries from $215.00 to $255.00 and gave the company a "strong-buy" rating in a research report on Thursday, May 22nd. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $259.00.
Read Our Latest Stock Report on DY
Dycom Industries Stock Performance
NYSE DY traded up $0.20 during trading hours on Wednesday, hitting $256.55. The company's stock had a trading volume of 287,024 shares, compared to its average volume of 424,034. Dycom Industries has a 12 month low of $131.37 and a 12 month high of $258.02. The company's 50 day simple moving average is $232.92 and its two-hundred day simple moving average is $191.08. The company has a market cap of $7.42 billion, a P/E ratio of 32.52, a price-to-earnings-growth ratio of 1.46 and a beta of 1.32. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.89 and a quick ratio of 2.68.
Dycom Industries (NYSE:DY - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The construction company reported $2.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.47. Dycom Industries had a return on equity of 20.04% and a net margin of 4.81%. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the company posted $2.12 EPS. The firm's revenue was up 10.2% on a year-over-year basis. As a group, sell-side analysts expect that Dycom Industries will post 7.13 EPS for the current fiscal year.
Institutional Trading of Dycom Industries
Several large investors have recently added to or reduced their stakes in the stock. Corient Private Wealth LLC grew its holdings in shares of Dycom Industries by 0.8% during the 4th quarter. Corient Private Wealth LLC now owns 7,015 shares of the construction company's stock worth $1,221,000 after purchasing an additional 55 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Dycom Industries by 26.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 341 shares of the construction company's stock worth $59,000 after acquiring an additional 71 shares in the last quarter. CW Advisors LLC lifted its stake in Dycom Industries by 1.0% during the 1st quarter. CW Advisors LLC now owns 9,338 shares of the construction company's stock worth $1,423,000 after acquiring an additional 91 shares in the last quarter. GeoWealth Management LLC lifted its stake in Dycom Industries by 35.9% during the 4th quarter. GeoWealth Management LLC now owns 348 shares of the construction company's stock worth $61,000 after acquiring an additional 92 shares in the last quarter. Finally, Summit Investment Advisors Inc. lifted its stake in Dycom Industries by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,972 shares of the construction company's stock worth $517,000 after acquiring an additional 94 shares in the last quarter. 98.33% of the stock is currently owned by hedge funds and other institutional investors.
About Dycom Industries
(
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Dycom Industries, Inc provides specialty contracting services to the telecommunications infrastructure and utility industries in the United States. The company offers engineering services to telecommunications providers, including the planning and design of aerial, underground, and buried fiber optic, copper, and coaxial cable systems; wireless networks in connection with the deployment of macro cell and new small cell sites; and program and project management and inspection personnel.
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